Market Focus: Gold and Dollar Figures Post-Fed Interest Rate Decision – Latest Update
The US Federal Reserve recently announced a decision to reduce interest rates by 25 basis points to 4.50 percent, in line with market expectations. This decision has sparked speculation about the future direction of the markets, particularly in relation to gold and the dollar.
Economist Hikmet Baydar believes that the dollar is likely to continue strengthening due to President Trump’s strong dollar policy. Despite the interest rate cut, the dollar did not decline as expected, indicating that the strong dollar policy will persist. Baydar also pointed out that inflation expectations may not be met in the future.
Looking ahead, there may be tension between President Trump and the Federal Reserve, as their policies may not align. The Fed may not be comfortable with further interest rate cuts in the future.
In terms of gold prices, it is predicted that the ounce of gold may drop to $2601 initially, with a possibility of going lower to $2529. However, gram gold prices may not decrease as much as ounce gold, with a possibility of holding at 2900 liras.
Regarding the dollar exchange rate, there may be small upward movements but in a controlled manner. The dollar may slowly move towards 35.08 levels against the Turkish lira, with a potential return to 34.75 levels depending on foreign investors’ bond purchases. Technical indicators suggest a risk of profit realization at current levels, indicating a potential shift towards 34.75 at any time.
